“This project will create thousands of jobs and generate new economic opportunities for residents in our neighborhoods,” Mayor Rahm Emanuel said. Source: City closes $500M redevelopment deal for Old Main Post Office Hat tip to the Sun Times for this article on the Old Post Office. This is exciting news for the South and West Loop neighborhoods!
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Emanuel gets the go-ahead to seize Old Main Post Office
Things are getting interesting over at the Old Post Office again. As I wrote back on February 29, the City is moving to take control of the property to sell it to someone who will develop it. Mayor Emanuel’s plan received approval from the Community Development Commission. The City will now seek bids from developers, which are due by June 8, 2016. Meanwhile, the current owner, Bill Davies, claims that he is on the verge of sealing a deal with “a New York investor with ‘impeccable status and stature‘” to redevelop the property, and that the Mayor’s actions will jeopardize that plan. Evidently, Emanuel is not interested in promises made…
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Chicago Old Main Post Office Is Up For Grabs
Nearly every Chicagoan has experienced the oddity of driving straight through the massive Old Main Post Office taking the Ike downtown. In 1996, the Postal Service moved to a new building across the street, leaving the old building vacant. For the past 20 years, not much has happened there other than the occasional fire from commuter train exhaust and Batman. The current owner, Bill Davies, bought the building from the Postal Service in 2009. Since that time, Mr. Davies has unveiled several proposals for the site (see here, here and here); however, not a single hammer has swung at the property. Last week, Rahm Emanuel announced that the City plans…
